By Alistair Barr | SAN FRANCISCO SAN FRANCISCO Groupon Inc said on Wednesday that it promoted Kal Raman to chief operating officer, giving the executive more power as the world's largest daily deal company tries to turn around its struggling international businesses.Raman joined the company in April and was previously Senior Vice President, Global Sales and Operations.
New York/San Francisco: Earlier this month SoftBank led a $502 million investment in a London-based virtual reality start-up called Improbable Worlds. Less than two years ago, the start-up was worth about $100 million. Then SoftBank came along, and suddenly it was worth 10 times that. Overnight, Improbable Worlds had become a unicorn.
Just last week, SoftBank swooped in and pumped $1.4 billion into Paytm, India’s largest digital-payments startup. The deal boosted Paytm's valuation by about 40 percent to $7 billion. That's not outlandish given Paytm's dominant market position, but the valuations of other SoftBank deals have prompted head-scratching and ignited alarm that a funding atmosphere that only recently cooled off will heat up again.